Brokerages Anticipate Endologix, Inc. (NASDAQ:ELGX) Will Post Quarterly Sales of $35.26 Million

Wall Street analysts expect Endologix, Inc. (NASDAQ:ELGX) to announce sales of $35.26 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Endologix’s earnings. The lowest sales estimate is $35.00 million and the highest is $35.58 million. Endologix posted sales of $34.76 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.4%. The business is scheduled to report its next earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Endologix will report full year sales of $142.70 million for the current financial year, with estimates ranging from $142.10 million to $143.85 million. For the next year, analysts forecast that the company will report sales of $150.91 million, with estimates ranging from $150.00 million to $152.07 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Endologix.

Endologix (NASDAQ:ELGX) last released its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.43. Endologix had a negative net margin of 60.32% and a negative return on equity of 120.57%. The company had revenue of $36.24 million during the quarter, compared to the consensus estimate of $36.09 million.

Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Endologix from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Endologix from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research note on Wednesday. Finally, Royal Bank of Canada set a $7.00 price objective on shares of Endologix and gave the stock a “hold” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $20.25.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of Endologix during the second quarter worth $91,000. M&T Bank Corp acquired a new position in shares of Endologix during the second quarter worth $102,000. Zacks Investment Management acquired a new position in shares of Endologix during the second quarter worth $108,000. HighTower Advisors LLC acquired a new position in shares of Endologix during the second quarter worth $145,000. Finally, Walleye Trading LLC acquired a new position in shares of Endologix during the second quarter worth $158,000. 48.44% of the stock is currently owned by institutional investors and hedge funds.

ELGX traded down $0.01 during trading on Friday, hitting $6.10. 242,300 shares of the company’s stock were exchanged, compared to its average volume of 261,542. The company has a current ratio of 2.53, a quick ratio of 0.90 and a debt-to-equity ratio of 2.45. Endologix has a 1 year low of $5.20 and a 1 year high of $26.50. The stock has a 50 day moving average price of $6.75 and a 200 day moving average price of $5.69. The firm has a market cap of $112.90 million, a P/E ratio of -0.85 and a beta of 0.37.

About Endologix

Endologix, Inc develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. The company offers minimally-invasive endovascular aneurysm repair (EVAR), including AFX (Anatomical Fixation) endovascular AAA system, which is a minimally invasive delivery system; VELA Proximal Endograft, which is designed for the treatment of proximal aortic neck anatomies with AFX; and the Ovation abdominal stent graft system.

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